STATISTICS: MOLDOVA, 1Q2017: Local insurers' business grew by 10.22% in the beginning of 2017

In 1Q2017, the total GWP collected by Moldavian insurance companies have reached to MDL 310.33 million, up by 9.12% y-o-y, according to the official data published by the market watchdog.

In the European currency, the evolution was 19.99% to EUR 14.83 million, due to the appreciation of the national currency against the European one by almost 4%.

At the same time, the value of the claims paid by the Moldovian insurers increased by 6.0% to MDL 121.43 million, compared to January-March 2016, data published by the National Commission of the Financial Market in Moldova (CNPF) show.

Analyzing the results of the first quarter, there are changes in the ranking of the companies, as well as in terms of the market share. DONARIS VIG maintains its first position, as in the first quarter of 2016, but its market share fell from 18.03% to 16.95%; MOLDASIG ranked second, with a market share of 15.05%. GRAWE CARAT Asigurari is increasing its market share to 14.36%, while ASTERRA GRUP and KLASSIKA ASIGURARI are on the rise in the ranking and the market share. Thus, ASTERRA GRUP ranked on the fourth place with 10.01% market share and KLASSIKA ASIGURARI on fifth position with 9.20% market share.

ALLIANCE INSURANCE GROUP dropped significantly in the ranking, on the eighth position, compared to the 4th place in the previous year, with a decrease in GWP of over 40%.

At the same time, GENERAL Asigurari, a company that started its activity at the end of the previous year, ranked on the 10th position, with GWP - MDL 12.56 million.

On the Moldovian insurance market there are 14 insurance companies

The top five insurers generated about 61.10% of the total GWP (note: ASITO is in the special administration procedure at CNPF and SIGUR-ASIGUR has submitted its recent license).

Insurance market of Moldova as of the end of September went up by 2.27% y-o-y. At that, thanks to the favorable exchange rate evolution against euro, the market growth in European currency amounted to 7.36% (GWP of EUR 55.27 million).

In 1H the Moldovan market generated MDL 705.71 million of GWP (EUR 36.14 million), 6.39% more y-o-y, at that the market's growth in euro was twice as higher (12.82%), according to the official data published by the National Commission of the Financial Market in Moldova (CNPF).

In 1Q2018 the Moldovan market generated MDL 332.1 million, which is 7.01% more y-o-y in local currency, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF).

In 2017 Moldovan insurance market produced GWP in the amount of EUR 70.6 million (MDL 1.5 billion), 6.9% up y-o-y, according to the final data of the Supervisory Authority (CNPF), centralized by the specialized portal www.xprimm.md.

Moldovan insurance market produced GWP in the amount of EUR 70.6 million (MDL 1.5 billion) in 2017, 4.8% up y-o-y, according to the preliminary data of the Supervisory Authority (CNPF), centralized for the first time by the specialized portal www.xprimm.md.

GWP collected by Moldavian insurers totaled MDL 1,067.96 million and went up by 5.26% compared to the similar period of 2016, according to the official data published by the National Commission of the Financial Market in Moldova (NCFM).

Until 2022, the volume of insurance reserves and the insurers' capital must reach the level of MDL 1.8 billion each, the development strategy developed for the following five years by the National Commission of the Financial Market in Moldova (NCFM) for the non-banking financial market envisions.

One of the most important annual events dedicated to the regional insurance market, The Insurance Conference - Republic of Moldova, took place on 10 October in Chisinau, gathering over 120 professionals from Moldova, Romania, Russia, Ukraine, Holland, Germany, The Czech Republic, Poland, Croatia and Latvia.

Total GWP collected by Moldavian insurance companies in 1H2017 have reached to MDL 663.35 million, up by 5.62%, according to data published by the National Commission of the Financial Market in Moldova (NCFM).

On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.

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